NASHVILLE, Tenn., Jan. 3 /PRNewswire/ -- HCA-Hospital Corporation of America announced today that it filed a registration statement with the Securities and Exchange Commission in connection with its previously announced plans for an initial public offering of its common stock during the first calendar quarter of 1992.
All of the shares are being sold by the Company and HCA anticipates that it will receive approximately $700 million in gross proceeds from this offering. The Company intends to use the net proceeds from this offering to retire existing indebtedness.
The registration statement provides for the offering of 34,000,000 shares of common stock at an anticipated price between $19 and $22 per share. Of the 34,000,000 shares, 27,200,000 shares will be offered for sale in the United States and 6,800,000 shares will be offered internationally. The Company has granted the U.S. and international underwriters an option to purchase up to an additional 5,100,000 shares to cover over-allotments.
Goldman, Sachs & Co. and its international affiliate will be the lead manager with Merrill Lynch & Co. and J.P. Morgan Securities Inc. and their international affiliates acting as co-managers for both the United States and international offerings.
HCA is one of the leading hospital management companies in the United States, owning and operating 128 hospitals with more than 23,000 beds.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
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/CONTACT: Victor Campbell of HCA-Hospital Corporation of America, 615-320-2053/ CO: HCA-Hospital Corporation of America ST: Tennessee IN: HEA SU: OFR

CM -- CH002X -- 6498 01/03/92 12:38 EST

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